Report: Former Islander LaFontaine Sought to Buy Team

While there might not be any hockey being played yet this season due to a lockout, the New York Islanders are still making headlines.

The New York Post reported Monday that Hall of Famer Pat LaFontaine has been contacted by multiple European investors about not only buying the struggling franchise, but keeping the team on Long Island.

LaFontaine, who starred for the Islanders for eight seasons and is in the top six in goals and points in team history, is intrigued by the opportunity and may look to put together some sort of bid, sources said.

However, according to the Post, current owner Charles Wang is looking to sell the team for a steep $300 million.

At $149 million, Forbes currently has the Islanders valued 29th out of 30 teams in the National Hockey League.

Wang purchased the franchise in 2000 for $130 million, a decision he told Newsday [paid link] he regretted back in 2009.

"If I had the chance," Wang said, "I wouldn't do it again."

LaFontaine, who lives on the north shore of Long Island, would look to keep the team in Nassau, according to the Post. However, an arena would be necessary for the 47-year-old to pull off such a feat.

The lease on the Nassau Veterans Memorial Coliseum is set to expire in 2015. Nassau County residents voiced their displeasure at the polls back in August 2011, as they voted down a referendum that would allow for a new arena to be built for the Islanders.